Almasane Alkobra Mining Reports SAR 94.76M Net Profit in the Six Months 2026
AMAK 1322.SA | 0.00 |
On 2026-07-29 09:43:15 (Saudi Time), Almasane Alkobra Mining Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 236,966,964 | 258,563,288 | -8.352 | 218,408,727 | 8.497 |
| Gross Profit (Loss) | 65,565,958 | 110,425,658 | -40.624 | 87,805,151 | -25.327 |
| Operational Profit (Loss) | 44,313,754 | 91,018,151 | -51.313 | 72,144,147 | -38.576 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 34,657,788 | 73,047,621 | -52.554 | 60,104,048 | -42.337 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 34,482,664 | 73,988,496 | -53.394 | 60,282,918 | -42.798 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 455,375,691 | 478,335,686 | -4.799 |
| Gross Profit (Loss) | 153,371,109 | 194,380,121 | -21.097 |
| Operational Profit (Loss) | 116,457,901 | 159,133,192 | -26.817 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 94,761,836 | 128,287,270 | -26.133 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 94,765,582 | 127,730,617 | -25.808 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,420,842,524 | 1,284,349,414 | 10.627 |
| Profit (Loss) per Share | 1.07 | 1.45 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, sales/revenue declined 4.799% YoY to SAR 45.54 million (SAR 455,375,691 / 1,000,000 = SAR 455.38 million) from SAR 478.34 million, primarily due to decreased quantities sold of copper, zinc, and gold following the temporary suspension of the Al Masane process plant (announced 22 January 2026), despite higher prices for copper, zinc, silver, and gold. Net profit attributable to shareholders fell 26.133% YoY to SAR 94.76 million from SAR 128.29 million, driven by a SAR 41 million decline in gross profit and increased general and administrative expenses, partially offset by lower severance expenses. The Al Masane base metals processing plant resumed operations on 13 May 2026, which contributed to a sequential recovery in revenues and volumes in the current quarter.
Quarter-on-Quarter Performance Drivers
QoQ revenue rose 8.497% to SAR 236.97 million (from SAR 218.41 million in the previous quarter), driven by higher quantities sold and increased prices for copper, zinc, and silver, partially offset by lower gold volumes and prices. Despite the revenue improvement, net profit fell 42.337% QoQ to SAR 34.66 million (from SAR 60.10 million), primarily due to a SAR 22 million decline in gross profit, compounded by higher general and administrative expenses and increased income tax expenses, partially mitigated by lower severance expenses.
Other Items
The external auditor issued an unmodified conclusion on the interim financial results for the six months ended 30 June 2026. No additional comments were noted in the auditor's report, and no reclassification of comparison items was required. There are no accumulated losses reported. Total shareholders' equity (after deducting minority equity) stood at SAR 1,420,842,524 as of 30 June 2026, compared to SAR 1,284,349,414 for the same period of the prior year, representing an increase of 10.627%. Earnings per share for the current period was SAR 1.07, down from SAR 1.45 in the same period of the prior year, calculated based on a weighted average number of ordinary shares outstanding of 88,560,562.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97062&anCat=1&cs=1322&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.